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Topic: Can Bitcoin also lead to corruption ? - page 60. (Read 51285 times)

sr. member
Activity: 364
Merit: 250
August 21, 2017, 11:21:08 PM
We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

Everything that involves money in any form leads to corruption. As you said it, it is everywhere as long as there are greedy people. I can say that every one of us are greedy but in a certain level. One example is that all of us here wants to have more btc in our wallets. It's just that most of us are working hard and in a clean way to reach that goal. But there will always be people who uses every means even illegal just to have what they want. Some are scamming people and I think it is considered a corruption.
full member
Activity: 345
Merit: 100
August 21, 2017, 10:18:27 PM
We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?
As lomg as there's an involvement of money, there' always be corruption. There's anonymity so we won't know if a corruption in Bitcoin is happening or when will it happen, what are the signs and the likes. We just need to acvept it , as ling as its users are still earning profit out of Bitcoin, it won't be a hindrance for them to stop.
member
Activity: 84
Merit: 10
August 21, 2017, 09:43:20 PM
Most certainly, everything related to wealth can be corrupted.
full member
Activity: 228
Merit: 100
August 21, 2017, 10:30:47 AM
Unfortunately, bitcoin is already actively used in corruption because of its anonymity. The whole reason is in human greed and while people will be greedy, corruption will exist with any currencies.
full member
Activity: 247
Merit: 100
August 21, 2017, 10:02:09 AM
 definitely yes .. corruption is all over the world and in everywhere aspects of the world .. example of the corruption in bitcoin industries .. that too many investment site that in first that you have to invest then you make withdrawal in order to you to make invest more .. but in the end its scam .. many site that scam
full member
Activity: 434
Merit: 100
August 21, 2017, 09:57:22 AM
It can also be used corruption Because of its many investment it is like corruption. And many people have lost money and robbed because of it. Bitcoins are also used to support the terrorists as they would of course this would be bad for us. And much more. I hope that this corruption will continue to be a bit of a sight on bitcoins
hero member
Activity: 910
Merit: 501
August 21, 2017, 09:03:02 AM
You can use bitcoin as a form to transfer value in corruption.
It is a persons choice to do a corrupt act, and bitcoin is only a chosen method to play a role in it.
I would not say that bitcoin leads the people to corruption. It is used for it. I think there is a difference.
What I must admit is that in corruption bitcoin can work as a catalyst.
But the basic problem is there, with or without bitcoin.
sr. member
Activity: 714
Merit: 261
August 20, 2017, 11:38:00 AM
One of the disadvantages with Bitcoin is that it can be used for criminal activities, such as the payment of ransom, bribes.etc. And as long as the receiver decides not to convert his coins to fiat, it is almost impossible to trace him.

Yeah thats true but I don't think converting it to fiat will also lead to tracing of the money because justification can be given that the money was received from trades or investment or even online earnings. There is no real way for the bitcoin transaction to be tracked. We do not put any purpose or comments while transacting the bitcoin from one person to another as we would do with the banking system. If we are giving away big money then it is completely traceable there so we need to justify the tax department what transacted for what!
sr. member
Activity: 714
Merit: 250
August 19, 2017, 09:12:57 AM
We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?
I think it's more difficult to corrupt if the money is in the form of Bitcoin, because the bitcoin transaction is transparent and can be seen by the public. So we can know to which address the money is sent. If we are still using paper money then we will be more difficult to trace the transaction. Because most of transactions using fiat are not recorded.
sr. member
Activity: 456
Merit: 250
August 18, 2017, 01:34:22 PM
Corruption is all about the human activity where money has been used to make the process get completed in a short or to solve some issues that has taken place. In recent day the usage of bitcoin for corruption has increased a little that the past days. This is all because of the increased corruption over every sector.
legendary
Activity: 3318
Merit: 1133
Leading Crypto Sports Betting & Casino Platform
August 18, 2017, 01:02:49 PM
One thing I have learned. When it comes to money every mind could be corrupted.
This is a large of sum of money we are talking here and we dont even know if it is alsready being used for that evil ourpose.
Corruption will always be there and if there is a means to do it they will.
Government or high ranking authority, any of them could do such things and make people think it was for good.
hero member
Activity: 1022
Merit: 500
August 18, 2017, 01:00:06 PM
Yes it can lead to corruption if the person are greed, I think this is the reason why some other country they don't want to adopt it because of this matter. It will be hard for them to trace the people who are doing corruption though bitcoin can be use for good and bad purposes.
I guess bitcoin will not get be abuse by the community here in the forum.
hero member
Activity: 729
Merit: 500
August 18, 2017, 12:31:39 PM
Bitcoin does have its value, it can be exchanged into fiat currencie, that can be used worldwide, being local currencie or dollar/euro or any other.  A lot scams projects camed online with bitcoin and altcoins, greedy people always looking for a way to take advantage of newbies, crypto isn’t different money when we talk about corruption and bad behavior, scammers will use fiat or crypto to damage others.
sr. member
Activity: 446
Merit: 250
August 18, 2017, 11:27:57 AM
Well...considering the transparent transaction system inside the blockchain, Bitcoin will minimize the level of corruption.
Lets pay the corruptioners in bitcoins and make them transparent! Grin
newbie
Activity: 9
Merit: 0
August 17, 2017, 09:23:39 AM
Any valuable thing and currency including bitcoin can be used for corruption because of human greed. Corruption will exist as long as there is human greed.
sr. member
Activity: 658
Merit: 282
August 17, 2017, 05:52:14 AM
Corruption is everywhere.

With that, the answer is yes. Bitcoin can lead to corruption in such point that authorities may create a law making them earn money from all the Bitcoin transaction that people are doing. They may imply a tax for example which will be a requirement for people who invests on Bitcoin to pay that tax.

And how would they collect the money they are owed due to a law like this?
This sounds completely unrealistic and would never be introduced.

Especially because financial regulations are not global, but differ greatly between
various jurisdictions.

member
Activity: 60
Merit: 10
August 16, 2017, 10:49:48 PM
Corruption is everywhere.

With that, the answer is yes. Bitcoin can lead to corruption in such point that authorities may create a law making them earn money from all the Bitcoin transaction that people are doing. They may imply a tax for example which will be a requirement for people who invests on Bitcoin to pay that tax.
sr. member
Activity: 1792
Merit: 264
August 16, 2017, 10:37:55 PM
I have not heard more examples of corruption with the use of bitcoin. It will be difficult to do as most people don't know what it is and don't have the necessary amount of bitcoins. Besides, any action on the Internet are easier to track than Fiat.
I don’t really think Bitcoin is leading to corruption, because corruption has been from the start even with Fiat. Rather I will say that Bitcoin might make it quite easy for them due to its anonymity.

Being anonymous is not only the reason bitcoin can lead to illegal things. Basically it is human nature as all human always want to misuse a new technology. Honestly this is what happening with bitcoins.
The most important factor is the nature of a person who always misuses the use of bitcoin, so bitcoin can be used as a treasure asset in the form of corruption. Crime is always based on opportunities such as the anonymous bitcoin nature by greedy people.
full member
Activity: 2520
Merit: 204
August 16, 2017, 10:21:09 PM
We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

i think not in bitcoin because the bitcoin is use online transaction i don't know how to be curruption using the decentralized currency, but not possible people there are many ways ideas if talking about money matter involve.
full member
Activity: 378
Merit: 101
August 16, 2017, 10:07:22 PM
Well...considering the transparent transaction system inside the blockchain, Bitcoin will minimize the level of corruption.
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